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GST claim - LIC
I am a commission agent in cashews. I do have GST registration. Can I claim GST set-off in my LIC policies against my sales bill GST?
Replies (6)
Quick Summary
No, you cannot set off GST of commission agent against LIC policy
Thanks
Sourav
Agree with Mr. Sourav ... not available.
Your welcome
No you can't claim
You can claim Input tax credit (ITC) only if the purchase was for the furtherance of your business. In this case the ITC is not directly related to the furtherance of your business so it is not admissible as per section 17(5)
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